New York reports record April mobile sports handle
New York became the first state to have its monthly sportsbooks surpass $2.15 billion in revenue up 10%.
April’s revenue total was up 29.1% from last year while the $1.48 billion handle was up 26.2%. The 9.1% hold was up two-tenths of a percentage point as the state reaped $68.3 million in taxes. Operator winnings were down 34.2% from May, while handle slacked by 25.3%.
New York also crossed $1 billion in sports betting revenue for the calendar year, and the 51% tax rate on mobile operators helped push that total over $500 million for 2024 to $517.1 million.
Handle rebounded following the MLB All-Star break, climbing 21% to $271.7 million. That was 24.7% higher than the first week of mobile betting following last year’s Midsummer Classic. Revenue was up 36.7% as the week’s hold was nearly 1.5 percentage points higher than the 11.2% fashioned for July 21.
All nine operators finished with positive gross revenue, resulting in an estimated $17.5 million in state tax revenue.